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the crunch day is actually august 3rd, that's the day when the government has a big $23 billion social security payment and it has between $10 billion and $12 billion in tax revenue coming in. i think the really big issue for the treasury is going to be how it distinguishes between, if you will, paying back the money it already owes, paying back the government bond holders, and paying its ongoing running costs, things like social security, medicare, medicaid, military salaries and so forth, and i think the betting is that the government will put, will give a priority to paying the bills it already owes, to paying the bond holders, simply because if you don't do that, you go into massive default, and the whole global financial system i think really starts getting shaky, but not paying some of the big government commitments within the united states, that's going to get painful pretty fast. >> not paying the social securitys, the medicares, the medicaids of the world or even our defense budget that's as big of an issue for many in many mind as defaulting on our debt which would be a nonpa
the heat, high pressure from the midwest and the ohio valley is building toward us. big storms in the great lakes and new york to the north might, might get toward areas near the mason dixon line later. this 99 that ties the record at reagan national set back in 1993. richmond is already 100. these are noontime temperatures. we've got another four, five, six hours the bake in the sun. that's why we're going up to the 100s. in fact i raised my 100 from yesterday to 102. we get to 104, 105 today wouldn't be out of the question and right now the heat index is already 105. 107 fredericksburg, tappahannock and easton. in hagerstown, only feels like 98 but everybody is dealing with this. the good news is the front is coming through tonight and knock temperatures down oh five, 10 degrees for the weekend but today at 3:00, around 102. maybe 103 or 104. 6:00 p.m. we're still going to be around 100 degrees and a very hot afternoon and by 9:00, low 90s. i'll come back and we'll talk about the rest of the weekend and the tropics -- boy, there's a lot going on there too, see you soon. >>> metro still sa
on 4:40 on this friday morning. big storms are brewing for later on this afternoon. by 9:00, temperatures in the lower 80s. mostly cloudy pretty much all day. by 3:00 and 6:00, especially for that evening commute, we're looking at thunderstorms developing, some heavy downpours, also damaging wind gusts are possible with these. temperatures though not very hot today. temperatures around mid-80s as far as our highs are concerned. we'll talk more about the storms and your seven-day forecast when i come back. first, here's angie with your traffic. >> problems in d.c. early, anny. thank you very much. outbound new york drivers take note. it is closed at bladensburg road due to police activity. i'll have the latest details and more construction spots to avoid early in my next traffic report at 4:48. now over to andrea and mike. >> 4:40. time for the first "your money" report of the morning. >> cha-ching, here's jessica doyle. we saw green arrows yesterday. >> good morning, happy friday. we hope it will be a happy friday for wall street. we have the much-anticipated monthly jobs
to change entitlements and we know we're going to need revenues if we want a big package to solve the deal. now if it turns out the other side won't budge on anything, then we're going to be here every day until we get this done. >> senator mcconnell's proposal which we mentioned briefly at the top came out after you sat down with the president but what are the white house and other leaders saying about it this morning? >> well, there's a sense of relief, you can almost feel it all across washington today, erica, because senator mcconnell's proposal would help them step back from the brink. the president's spokesperson, jay carney, said yesterday that default is not an option, and they said some positive things about senator mcconnell's proposal, so everyone today is debating that proposal, but there is a sense that it lets some of the pressure off and may help the country avoid default. >> so in some ways it lets some of the pressure off politically. even though the president told you it's time to set politics aside, neither party wants to be the one that causes the u.s. to default so you
on the "cbs evening news." >> all right. good news here. guess whose birthday is today? >> big "g." >> that's right, jeff glor at the news desk. >> happy birthday. >> that is very nice. unexpected surprise. >> chris baked a cake. >> wow. >> get ready. >> after the show. good morning. we begin here now with an assassination in afghanistan. the powerful half-brother of afghan president hamid karzai was murdered this morning. officials say that ahmed wali karzai was shot to death by one of his own bodyguards at his home in kandahar. cbs news correspondent mandy clark is there. >> god willing there will be an answer of pain and suffering on the people, and peace and security will be implemented in our country so that no other afghan family will go through such pains that we all have suffered. >> reporter: ahmed wali karzai was a controversial figure. he was widely seen as the de facto governor of kandahar province, giving orders to public officials behind the scenes, but more importantly in this society, solving tribal disputes. over the years there were persistent reports that he was involved
to be the first big storm to hit the u.s. this year, don is packing 50-mile-an-hour winds and could reach drought-string be texas in the next 24 hours. kevin hughes is in texas this morning. >> reporter: this is the first tropical storm i can remember covering where most of the people are actually glad this storm is arriving. some precautions are being taken but like the rest of texas corpus christi hasn't had significant rain in four months so people aren't afraid of the tropical storm, they're welcoming its arrival. they're going through the marina making sure the boats are secure but it's not severe enough they're worried about moving any of the boats. there are no evacuations planned, the visitors bureau says no extra precautions out of the ordinary are taken and hotels are filling up with tourists over the weekend. they are hoping it brings the three to five inches of rain. they hope don doesn't stay too long but long enough to remind everyone what rain looks like. conditions here are still extremely dry. right now everyone here in corpus christi hoping that tropical storm don can bring some
Search Results 0 to 5 of about 6